Gahanna courts JPMorgan Chase for potentially 1,000 new jobs

Friday

Gahanna is working on an incentive package that would bring 500 new jobs to the city and the possibility of 1,000 jobs.

Gahanna is working on an incentive package that would bring 500 new jobs to the city and the possibility of 1,000 jobs.

Gahanna's Department of Planning & Development will request legislation April 25 that the city enter into an Office & Industrial incentive agreement with JPMorgan Chase for a proposed expansion project at 800 & 825 Tech Center Drive that would bring 500 jobs to the city.

JPMorgan Chase is proposing to lease 122,000 square feet at Tech Center Drive for a two-year term with multiple options for lease renewal.

"This reaffirms our intent to bring mortgage-service employees to the area to help our customers," she said.

The office facilities would allow JPMorgan Chase to expand its mortgage business operations by adding 500 jobs, with a possibility of adding a total of 1,000 jobs to the city of Gahanna.

The incentive advisory board met April 21 and voted to recommend the project for a 50-percent O&I incentive for a term of up to five years for the creation of 500 new jobs at an average annual wage of $40,000.

The project would generate approximately $20 million in annual payroll within the city of Gahanna. The total incentive payment to the company would be $150,000, and the net income-tax revenue to the city would be $450,000 over the two-year lease term.

For more on this story, read the April 28 edition of ThisWeek Rocky Fork Enterprise.

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